Welcome to the PortlandMarketWatch.com Blog

2018-10-02 13:43:46
Market Update :: October 2018

Portland real estate inventory continues to rise as market activity has cooled recently.  While September recorded 2.3 Months of Inventory (MOI) – most neighborhoods inventory continues to tread higher.  North Portland is well above 3.0 MOI and SW Portland is well above 4 Months Inventory.  In fact, 97201 (Portland Heights) is now at over 10 Months of Inventory!  Rising inventory will certainly impact prices going forward.

Median list price for Portland currently resides at $535,000 – off 9.3% from Portland’s peak in early April of $589,900.  While these peaks and valleys are normal and can be attributed to seasonal factors – the slowdown may be a sign of an overall change in the market.  55% of all listings have had a price reduction – the highest level in the past 5 years.

Rising interest rates will impact buyer’s effective purchasing power.  Interest rates are still historically very low (currently at 4.75% for a 30-year fixed mortgage) – but they are rising.  Mortgage rates have been below 5% for almost 10 years now!  The previous 30 years dating back to the early 1970’s saw interest rates at 6% and much higher.

Keep an eye on inventory going forward.  If inventory is rising the way the statistics show, we should experience further price weakness.  See the list below for your zip code’s current Months of Inventory.

North Portland
97203 = 3.0.   97217 = 3.7.

Northeast Portland
97211 = 3.4.   97212 = 6.6.   97213 = 2.1.   97218 = 3.4.   97220 = 2.8.   97230 = 2.7.   97232 = 6.2.

Southeast Portland
97202 = 3.0.   97206 = 2.5.   97214 = 1.9.   97215 = 3.0.   97216 = 5.6.   97233 = 2.1.
97236 = 3.5.   97266 = 3.4.

West Portland
97201 = 10.2.   97205 = 7.3.   97209 = 7.0.   97210 = 5.5.   97219 = 4.6.   97221 = 7.8.   97239 = 4.2.

 
Blog Archive
2019-06-22 18:38:27
Serious About Selling?

2019-06-21 14:11:31
Market Update :: June 2019

2019-05-17 14:18:03
Market Update :: May 2019

2019-05-15 14:36:49
'Spark Joy' for Buyers

2019-04-17 12:15:09
10 Home Buying Myths

2019-04-16 15:11:29
Market Update :: April 2019

2019-03-15 15:11:26
Market Update :: March 2019

2019-03-14 12:27:21
7 Things To Avoid After Applying for a Mortgage!

2019-03-01 14:50:35
Market Update :: February 2019

2019-02-26 12:13:13
Design Trends for 2019

2019-01-15 12:11:43
Market Update :: January 2019

2019-01-14 10:31:24
January 2019 Report: What’s Ahead for Real Estate in 2019?

2018-12-05 12:08:14
Market Update :: December 2018

2018-12-04 16:40:04
‘Tis the Season: 5 Reasons Why Winter is a Great Time to Buy or Sell a Home

2018-11-06 11:54:46
Are You Covered? A Homeowner’s Insurance Guide

2018-11-06 10:41:43
Market Update :: November 2018

2018-10-17 13:40:46
'How's the Market'

2018-10-02 13:43:46
Market Update :: October 2018

2018-10-02 13:42:42
Market Update :: August 2018

2018-08-31 12:22:39
Portland Heights OPEN HOUSE

2018-03-21 14:40:42
Market Update - March 2018

2018-02-01 15:27:53
2017 Market Recap

2018-01-22 13:51:05
Marshall-Wells Loft Condo

2018-01-19 12:33:47
Welcome to our new site!

2017-10-19 12:27:23
Market Update - September, 2017


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.
BrianSpear
(503) 515-9374
Spear@JMAProperties.com
Licensed Real Estate Brokers in the State of Oregon

© ProAgentWebsites.com |  Terms & Conditions |  Privacy Policy |  Fair Housing